Thanks for your comment. That's a good way to break down the value of it, and yes there is certainly an increased risk level during this huge downturn.
There's a few aspects that make it difficult for me to assess. Right now, I feel kind of uncomfortable.. I feel as if I'm in a position which, at least outside of my org, is much more difficult to obtain without a graduate degree, and I don't think I'd enjoy doing a master's in stats etc. I like that software dev has less credentialism in that you can go very far with just a bachelors, or even without, providing you have the skills etc.
Though, if I did go the self taught route, I would not be able to remain in (most of, probably) the public sector or my org, whereas if I got the degree I could potentially come back to my position (with changed duties) or another in my org. But I could get up to 1 year of unpaid leave to try it out, and return to my position (same duties) if I wanted to. I'm also uncertain as to what degree Canadian employers are open to a self taught dev. Is this more accepted in the USA I wonder.
The other thing is, I've been through two reorgs already. Although things are good now, that can quickly change with a bad manager, and I feel like with the CS degree it'd be easier for me to quickly get a different job elsewhere.
One much cheaper alternative for me, which would take a lot longer, is to do a few core online CS courses and apply to Georgia Tech's OMSCS, but that would be completed ~ 4 yrs from now. Doing the CFA exams while working full time took a lot out of me - I'm afraid I'd constantly have doubts if it wasn't a full time program that I can just hammer out and get done. It can be hard to evaluate where you're at when you're self taught too I think.